Marcus Rate Reduction

surreysaver

blue_max_3 said:

schiff said:

You organise something one day and think Right that's that sorted out for a while; three days later things change. It's hard to keep up.

I went for fixed rates as it was clear they were all dropping. You pays your money...

And once all this virus business is over, fixed rates will be the losers!  I've still got fixed rates from a couple of years ago paying over 2%.  I was umming and arring over them at the time, but with hindsight were good moves!

surreysaver

crumpet_man said:

digalumps said:

That makes ns&i higher at 1.15% !

There are some restrictions though, i.e. minimum deposit, their version of easy access is slightly longer than most.

How long?  I was going to post NS&I, as it also (hopefully) assists with Halifax's new T&Cs as well

yawning_angel

Even my Charter Savings 95 day notice account is down to 1.24% from August, I could move the money there but that is likely to take another cut soon too I guess... not sure if there's anything better out there now... 

talexuser

I'm keeping my Halifax reward current now for the £5 a month. Balance of 5k means 1.2% but even if I keep 6k in there to guarantee never to go below 5k on any one day it is still effectively 1% interest, so not really worth running a low balance and putting the extra 4 or 5k in Marcus anymore, and the current account has a good float for immediate emergencies.

DazCM

I wasn’t going to bother but I think it’s time to add the Virgin Current account (2% on £1000) to my savings arsenal.

2010

yawning_angel said:

Even my Charter Savings 95 day notice account is down to 1.24% from August, I could move the money there but that is likely to take another cut soon too I guess... not sure if there's anything better out there now... 

Charter gave four months notice of the 95 day cut and they cut it by .65%, same as the BoE.
I can`t see another chop anytime soon but at least they do keep it at the old rate to give you time to move it.
The problem is where.

2010

2010 said:

I guess Saga will soon follow.

Well that didn`t take too long --------------------- down to 1% including a bonus of 0.20%.

https://www.saga.co.uk/money/savings/saga-easy-access-savings-account

Amoux

Not surprised, but I'll probably keep Marcus as I like the simplicity and flexibility of the account. It works and I have had no issues. 
I know this is money saving expert but I see no point switching for just 0.15%. 

soulsaver

yawning_angel said:

Even my Charter Savings 95 day notice account is down to 1.24% from August, I could move the money there but that is likely to take another cut soon too I guess... not sure if there's anything better out there now... 

Straying a bit, but:
The problem with notice acs is when you're in the rates dropping scenario, you may give the notice only to find you've got nowhere better to move it when the 3 months has passed. 
Can you leave in there with Charter if you change your mind?

colsten

DazCM said:

I wasn’t going to bother but I think it’s time to add the Virgin Current account (2% on £1000) to my savings arsenal.

The end of the 2% on the Virgin account is now in sight